Bahrain, Saudi Arabia to build $25 mln projects under GCC development program

The Saudi Fund for Development (SFD) has inked $25 million worth of two agreements with the Bahraini government.

Both agreements came as a part of phase III of the Saudi $2.5 billion grant to Bahrain within the framework of the Gulf Cooperation Council (GCC) development program.

Under the first agreement, a new road network will be extended to Allouzi Housing Project at a total cost of $14.4 million.

Under the second agreement, funds to finance the development of a long-stay care center in Muharraq, Bahrain, will be increased by $10.6 million to $47.6 million.

The long-stay care center will have the capacity of 100 beds.

Signing these two agreements will increase the funds provided to Bahrain within the GCC development program to $2.42 billion, including $442 million for housing projects, $581 million for electricity and water developments, $665 million for road networks, $93 million for sewage facilities, $69 million for healthcare, $85 million for education and $477 million for youth.